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Commerce Past Questions and Answers

Waec Commerce Questions

Question 1971:

The term utmost good faith in insurance means?

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A Both the insured and insurer must disclose all information
B Only the insurer must disclose all information
C The beneficiary must disclose all information
D Only the insured must disclose all information

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Question 1972:

Which of the following business units enjoys government subsidies

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A Private limited company
B Limited partnership
C Public limited company
D Public enterprises

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Question 1973:

Duty drawback refers to duties paid on?

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A Exported goods produced with local content
B Re-exported goods previously imported
C Imported goods for sale locally
D Locally manufactured goods for sale locally

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Question 1974:

The capital used in the day to day running of a business is?

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A Nominal capital
B Working capital
C Paid up capital
D Authorized capital

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Question 1975:

Which of the following is classified under current assets

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A Machinery
B Motor vehicle
C Stock
D Fittings

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